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Pictet Asset Management Holding SA Purchases 44,500 Shares of Regeneron Pharmaceuticals, Inc. $REGN
Pictet Asset Management Holding SA increased its stake in Regeneron Pharmaceuticals Inc. by 13.8%, purchasing an additional 44,500 shares, bringing their total holdings to 367,870 shares valued at approximately $284.7 million. Regeneron recently received FDA approval for Otarmeni, a gene therapy for hearing restoration, which the company plans to provide free to eligible U.S. patients. Analyst sentiment remains largely positive, with a “Moderate Buy” consensus and an average target price of $825.35, despite concerns about potential margin pressure from drug-pricing deals.